Washington State’s legal marijuana market saw over $100 million in sales in May.

According to data released by the state, there was approximately $101.84 million in legal marijuana sales in May, a 1.3% increase from the previous month and a 1.8% increase over May 2023. This brings the yearly total to around $500 million.

Total sales for May fell around $8 million short of the record-breaking $109.6 million sold in June 2022.
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Licensed marijuana stores in Arizona sold nearly $100 million worth of product in May.

According to the Arizona Department of Revenue, the state made $24,482,049 in tax revenue from $97 million in marijuana sales. This is roughly the same as the $24,586,563 in taxes garnered in April, but noticeably less than the $28,423,424 sold in May 2023, which remains the single-month record.

Recreational consumers accounted for 78% of the total marijuana sales in May ($76.4 million), while medical marijuana sales made up the remainder ($20.6 million). Continue reading

A  US congressmember behind federal legislation aiming to penalize states and tribes that legalize marijuana continues to seek support for the measure.

The Stop Pot Act, introduced in September by Representative Chuck Edwards (R-NC), is cosponsored by Representatives David Rouzer (R-NC), Gregory Murphy (R-NC), Pete Sessions (R-TX), and John W. Rose (R-TN). The measure would withhold federal funding from states and tribes that have legalized recreational marijuana.

Specifically, if the Stop Pot Act is passed into law, the federal government would withhold 10% of federal highway funds from states that violate the federal Controlled Substances Act (CSA). Since the CSA classifies marijuana as a Schedule I drug, any state that legalizes it would be in violation of federal law and thus face funding cuts.
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So far 56 cities in Ohio have placed bans or moratoriums on recreational marijuana sales.

Ohio recreational marijuana law, passed by voters last year, allows cities to opt-out of allowing recreational marijuana sales. So far, 56 cities have taken this approach to disallow marijuana stores.

Under Ohio’s law, those 21 and older are allowed to possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates, and they can cultivate up to six marijuana plants at a private residence. The law allows licensed marijuana stores, overseen by the Division of Cannabis Control, to sell marijuana and marijuana products, with medical marijuana dispensaries having the option to obtain a dual-license to also sell to recreational marijuana patients. So far over 60 provisional dual-issue licenses have been issued, with sales expected to begin as soon as this week.
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There’s enough votes in the United States House of Representatives to pass a federal marijuana banking act, according to Congressmember Nancy Mace (R-SC).

The SAFE Banking Act (H.R. 2891) has 124 sponsors in the House, more than any other marijuana-related measure. The proposed law would provide federal protections for banks and credit unions that serve marijuana businesses that are legally licensed under state law. This encompasses recreational marijuana retail outlets in the 23 states that permit them, as well as dispensaries in the 38 medical marijuana states.

Furthermore, the legislation would allow licensed marijuana businesses to take standard IRS tax deductions, a practice currently forbidden.
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Legislation to protect banks and other financial institutions that provide services to state-legal marijuana businesses has been given approval by the Delaware Legislature.

House Bill 355, sponsored by Representative Ed Osienski and Senator Trey Paradee, clarifies that providing financial services to legal cannabis businesses is lawful under Delaware state law. Passage of the bill removes a major barrier for the cannabis industry, which has struggled to access traditional banking services due to the continued federal classification of marijuana as a Schedule I drug.

“This legislation is a critical step forward for Delaware’s cannabis industry,” said State Treasurer Colleen Davis. “By ensuring safe access to banking services, we are empowering legitimate businesses to operate transparently and securely.”
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Voters in South Dakota will have the opportunity to legalize recreational marijuana in just 19 weeks, on November 5.

Measure 29, sponsored by South Dakotans for Better Marijuana Laws (SDBML), would make the possession and cultivation of marijuana legal for adults 21 and older. The initiative would also establish a licensed, regulated and taxed system of marijuana businesses, including retail outlets.

Possession limits would be set at two ounces of marijuana dried marijuana, 16 grams of marijuana concentrates, and “Cannabis products, other than concentrated cannabis, containing one thousand six hundred milligrams of tetrahydrocannabinol.”
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The NCAA (National Collegiate Athletic Association) Division I Council has voted to remove marijuana products from the banned drug class for championships and postseason participation in football.

Brazil’s Supreme Court on Tuesday voted to decriminalize possession of marijuana for personal use, according to the Associated Press.

With final votes cast on Tuesday, a majority of the justices on the 11-person court have voted in favor of decriminalization since deliberations began in 2015. The justices must also determine the maximum quantity of marijuana that would be characterized as being for personal use and when the ruling will enter into effect, which is expected to be finished as early as Wednesday.

All the justices who have voted in favor said decriminalization should be restricted to possession of marijuana in amounts suitable for personal use, with distribution remaining illegal.
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